July 08, 2015 (LBO) – China’s main stock index, Shanghai Composite fell 8.2 percent at the start of trading Wednesday with the index dropping 4 percent to 3576.79, foreign media reports said.
The smaller Shenzhen Composite fell 3.9 percent.
The media report said, the slump came despite more moves by China’s regulators to try and stabilise the recently volatile market.
“China has introduced fresh measures to restore investor confidence seemingly to little avail,”
“Stocks and Chinese bonds traded offshore, even high-quality corporate bonds issued by top state-owned companies, are getting dumped.”
Hundreds of Chinese stocks were frozen from trading Wednesday, while 1,287 companies halted.
So far China’s main stock benchmarks have lost more than a third of their value since highs in June.
According to data this amounts for 45.6 percent of the constituent stocks of the Shanghai Composite and Shenzhen Composite and 2.5 trillion US dollars of market capitalization.